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MOSL: Morning India (15/January/20): 1. Fund Folio (Equity AUM up for sixth successive year); 2. Wipro; 3. IndusInd Bank; 4. InterGlobe Aviation; 5. Mindtree; 6. EcoScope

MOrning India (15/January/20): 1. Fund Folio (Equity AUM up for sixth successive year); 2. Wipro; 3. IndusInd Bank; 4. InterGlobe Aviation; 5. Mindtree; 6. EcoScope

 

Today’s top research theme

Fund Folio (January 2020): Equity AUM up for sixth successive year, net inflows consolidate in CY19

• Domestic MFs witnessed steady flows during the year, propelling an uptrend in the AUM of equity funds for the sixth consecutive year.
• Equity AUM of domestic MFs touched a new high of INR9t (+6% YoY) in CY19, led by a rise in market indices (Nifty +12% YoY). Redemptions decreased 12% YoY to INR2,024b. However, a decrease in sales of equity schemes (-14% YoY to INR3,079b) led to a decline in net inflows to INR1,054b in CY19 from INR1,288b in CY18 .
• The mutual fund industry's average AUM increased 13.6% YoY (INR3.2t) to INR26.9t in CY19, primarily led by inflows in equities, other ETFs, income and liquid categories.
• Domestic Cyclicals' weight increased marginally by 30bp to 62%. While, defensives' weight decreased from 27.6% in CY18 to 27.4% in CY19.

Piping hot news

Government seeks Rs 19,000 crore dividend from oil companies

The government is seeking a record Rs 19,000 crore in dividend from state oil companies — about 5% more than last year— to shore up its finances, according to people familiar with the matter. ONGC and Indian Oil, the biggest in the club, have been asked to pay about 60% of the total.